decisions. Since children have traditionally represented for parents a form of retirement saving, particularly in economies with … children, thus relaxing financial (saving) constraints and reducing fertility. We build a simple two-period OLG model to show …In the last century, most countries have experienced both an increase in pension spending and a decline in fertility …

the downward trends in family formation and fertility worldwide, and for a slowdown in the rates of savings and economic …

Economists have long argued that introducing social insurance will reduce fertility. The hypothesis relies on standard … models: if children are desirable in part because they provide security in case of disability or old age, then State programs … that provide insurance against these events should induce couples to substitute away from children in the allocation of …

endogenous-growth model where human capital is the engine of growth, family choices affect its formation in children, and family … concerning children and savings are generally adversely affected by the PAYG system. We implement the model using panel data from … sizeable portion of the downward trends in family formation and fertility around the world …

the downward trends in family formation and fertility worldwide, and for a slowdown in the rates of savings and economic …